Swiss Voters Reject High-Pay Initiative

Referendum to Limit Executive Pay Overwhelmingly Rejected

By

Neil MacLucas

Updated Nov. 24, 2013 12:34 p.m. ET

ZURICH—Swiss voters overwhelmingly rejected an initiative that would have restricted executive salaries to 12 times that of the lowest-paid employee.

Roughly 65% of Swiss voters Sunday opposed the 1:12 Initiative for Fair Pay, according to results from all of the country's 26 cantons reported by Swiss television. Another 34% supported the proposal, which was named for the organizers' belief that no one in a Swiss company should earn...